President Bola Tinubu has declared that Nigeria has moved beyond the emergency phase of his administration’s economic reforms, saying the country is entering a new phase focused on shared prosperity.
Tinubu made the declaration in his Independence Day broadcast on Thursday as Nigeria marked its 66th anniversary.
The President said the difficult economic measures introduced by his administration had addressed longstanding structural weaknesses and laid a stronger foundation for sustainable growth.
According to him, the government’s priority will now shift from economic stabilisation to ensuring that the benefits of the reforms translate into improved living standards and broader opportunities for Nigerians.
Tinubu said previous approaches to the country’s economic challenges failed to tackle their underlying causes.
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“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came,” he said.
“Our reforms did not create the weaknesses in our economy. They confronted them.”
Tinubu Rejects Return to Subsidy
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The President also rejected calls for a return to the previous subsidy regime, warning that reversing the reforms could undermine the progress recorded so far.
“We must resist their siren song. We must remember why we began this journey and how far we have already come,” Tinubu said.
His administration has consistently defended the removal of petrol subsidy and other economic reforms as necessary measures to address fiscal pressures and structural distortions in the economy. In May, Tinubu said his government inherited significant fiscal, exchange-rate and debt-servicing pressures when it assumed office in 2023.
Tinubu Highlights Economic Gains
The President cited improvements in economic growth, inflation, foreign reserves, foreign exchange stability and investment as evidence that the reform programme was yielding results.
He also highlighted reduced oil theft and growth in non-oil exports, saying the country recorded about $6 billion in non-oil exports in 2025.
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Tinubu said growing foreign direct investment and improved private-sector confidence further demonstrated progress in stabilising the economy.
The administration had earlier said the next phase of its economic programme would focus on translating macroeconomic stability into improved livelihoods and ensuring that economic gains reach households across the country.
‘Now Begins the Age of Prosperity’
Tinubu said the central task of his administration had changed after three years of reforms aimed at correcting the country’s economic direction.
“The emergency treatment is over. The foundation has been repaired. For three years, our overriding purpose was to correct our nation’s course. Now, our purpose is simple: shared and widespread prosperity,” he said.
“The age of reform has done its work. Now begins the age of prosperity.”
The President said Nigeria had passed through a difficult period of economic adjustment and urged citizens to remain committed to the country’s recovery rather than return to policies his administration had sought to reform.
Tinubu said the government would now concentrate on ensuring that economic growth translates into jobs, stronger businesses, improved household incomes and better living conditions for Nigerians.
He described Nigeria’s experience as having passed through its own “Red Sea,” insisting that the country must continue moving forward rather than reverse course.
